...But today our industry is being challenged by increased global competitionfrom established and emerging life sciences jurisdictions, as well as by difficult economic conditions that include tight credit and market volatility. To compete successfully in the global marketplace, we know that our industry needs to continue to attract and nurture great scientific minds, increase collaboration among all the players – academia, industry and government – to accelerate the commercialization of research breakthroughs, and improve financing for innovative companies, particularly at the early-stage.

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